当地时间1月13日，美国三大股指全线收跌，道指跌0.8%跌近400点，标普500指数跌0.19%，纳指跌0.1%。 | 美股指数 | | | | --- | --- | --- | | 道琼斯 | 纳斯达克 | 标普500 | | 49191.99 | 23709.87 | 6963.74 | | -398.21 -0.80% -24.03 -0.10% -13.53 -0.19% | | | | 中国金龙 | 纳指100期货 | 标普500期货 | | 7874.82 | 25898.25 | 6999.25 | | -148.97 -1.86% -58.50 -0.23% -17.25 -0.25% | | | 科技股涨跌互现，英特尔涨超7%并创近两年新高，AMD涨超6%，Meta、亚马逊、微软跌超1%。英伟达涨0.47%，据央视新闻报道，当地时间1月13日， 据美国联邦公报显示，美国放宽了对英伟达H200芯片出口到中国的监管规定。 | 名称 现价 涨跌 涨跌幅▼ | | --- | | 谷歌(ALPHABET) 336.414 3.684 1.11% | | 英伟达(NVIDIA) 185.810 0. ...

中概股高开高走后全天维持在高位盘整，截至收盘中国金龙上涨4.26%，其中阿里巴巴大涨10.17%，哔 哩哔哩上涨8.95%，小鹏汽车上涨8.44%，京东上涨4.73%，蔚来、腾讯控股、网易等股涨幅均在4%上 方；拼多多逆势收跌1.51%。 COMEX黄金高开高走强势爆发，再创新高。截至收盘大涨2%报4608.8美元/盎司，盘中最低报4520.8美 元/盎司，最高报4640.5美元/盎司。 理财就是一场修行，有人修有人度，结果就是看谁踩准了点，把握住了机会。 低开高走后全天震荡上行，截至收盘三大指数均小幅收涨，其中道指上涨0.17%，纳指上涨0.26%，标 指上涨0.16%。盘面上，银行股集体回撤，科技股分化，中概股大爆发，黄金高开高走再创新高。 银行股集体回撤，其中花旗集团大跌2.98%，美国银行、摩根大通、齐昂银行、美国合众银行、联合银 行等股跌幅均在1%上方；高盛逆势收涨1.13%。 科技股延续分化，其中超威公司大涨2.22%，谷歌上涨1%，特斯拉、英伟达、苹果等股均小幅收涨；高 通逆势大跌4.79%，英特尔下跌3.27%，META下跌1.7%。 ...

每经AI快讯，1月13日，热门中概股多数走低，小马智行跌超6%，拼多多跌超5%，金山云、百度跌 4%，蔚来、理想汽车跌超2%。 ...

Group 1 - Chinese technology stocks experienced a decline in pre-market trading, with Alibaba down by 1.5% [1] - Pinduoduo Holdings saw a significant drop of 5.7% [1] - NetEase and Baidu also faced declines, with NetEase down 1.8% and Baidu down 3.4% [1] Group 2 - The Invesco MSCI China ETF decreased by 1.2% [1] - The Invesco China Large Cap ETF fell by 1% [1] - The KraneShares CSI China Internet ETF dropped by 2% [1]

Core Insights - Pinduoduo is quietly testing a new feature called "Billion Supermarket" within its app, focusing on limited-time coupons and low-price subsidies [1][2] - The feature is currently available only to a randomly selected group of users for experience [1][2] - The main attractions of "Billion Supermarket" include significant discounts and a wide variety of products, covering categories such as fruits, vegetables, snacks, dairy, and baby products [1][2]

Core Viewpoint - The article discusses Pinduoduo's new initiative called "Billion Supermarket," which aims to leverage its existing subsidy model to attract price-sensitive consumers in both lower-tier and first-tier cities, differentiating itself from traditional supermarkets and other e-commerce platforms [3][4]. Group 1: Pinduoduo's "Billion Supermarket" - Pinduoduo is quietly testing a new business called "Billion Supermarket" within its app, focusing on limited-time coupons and low-price subsidies [3]. - The core appeal of "Billion Supermarket" lies in its significant discounts and a wide range of products, including fruits, vegetables, snacks, and baby products, with weekly coupon events offering substantial savings [3][4]. - The initiative is not merely an expansion of product categories but aims to cover all consumer scenarios, replicating the successful subsidy model from electronics and beauty products to the supermarket sector [4]. Group 2: Competitive Landscape - Pinduoduo's entry into the supermarket sector faces competition from established players like JD.com, which aims to grow its user base from 300 million to 500 million by 2025, leveraging AI and a strong supply chain [6]. - JD's 7Fresh supermarket has shown impressive performance, with significant customer traffic and order volume growth, planning to expand further in major cities [6][7]. - Alibaba's ecosystem is also aggressively expanding, with Tmall Supermarket enhancing its instant retail services and Hema rapidly increasing its store count and revenue, targeting a GMV of over 100 billion yuan for the 2026 fiscal year [7][8]. Group 3: Market Challenges and Insights - Experts suggest that Pinduoduo's "Billion Supermarket" could strengthen its position in fast-moving consumer goods, but it faces challenges such as limited product variety and a lack of established consumer perception in the supermarket category [8]. - The competitive landscape has shifted from a focus on traffic subsidies to a comprehensive competition involving supply chain efficiency and service quality, with JD and Alibaba establishing strong barriers to entry [8].

Core Insights - Pinduoduo is reportedly preparing to enter the instant retail market, with plans to establish urban warehouses in major cities, potentially launching in Q1 or by Q3 at the latest [1] - The competitive landscape for instant retail has shifted, creating a more favorable environment for Pinduoduo to enter this space [6][7] Group 1: Changes in Business Environment - The closure of Meituan's preferred services has allowed Pinduoduo to dominate the community group buying market, providing it with the resources to explore new business opportunities [13][17] - The increase in the supply of delivery riders due to competition among major players has made it easier for Pinduoduo to procure delivery services [24][25][32] Group 2: Strategic Focus - Pinduoduo's approach to instant retail will focus on non-food delivery, particularly fresh produce and competitively priced private label products, rather than entering the food delivery market [9][12][19] - The company aims to leverage its existing agricultural supply chain capabilities to enhance its instant retail offerings, particularly in fresh produce, which is a high-frequency necessity [44][53] Group 3: Market Position and Financials - Pinduoduo's market capitalization has decreased to half that of Alibaba, but its cash reserves have increased, providing it with financial flexibility to invest in new ventures [48][50] - The competitive landscape in e-commerce is intensifying, with other platforms like Douyin and Temu gaining traction, making Pinduoduo's entry into instant retail a strategic move to maintain user engagement [51][52]

Group 1 - The China Internet 30 Index has seen a nearly 1% increase, with notable gains from companies such as TAL Education (+10.35%), Vipshop (+3.63%), Alibaba-W (+3.46%), Alibaba Health (+3.30%), and Tencent Music (+2.25%) as of January 13, 2026 [1] - Hugging Face reported that Alibaba Cloud's Tongyi Qianwen series models have surpassed 700 million downloads, making it the highest downloaded open-source AI series on the platform, with downloads in December 2025 exceeding the total of models ranked second to eighth [1] - The Chinese government has issued implementation opinions for the "Artificial Intelligence Manufacturing" initiative, aiming for key AI technologies to achieve secure and reliable supply by 2027, with plans to promote 3-5 general large models and develop 100 high-quality industrial datasets [1] Group 2 - The China Concept Internet ETF (159607) closely tracks the China Internet 30 Index, which includes 30 Chinese internet companies listed overseas, providing a convenient tool for investment in these firms [2] - As of December 31, 2025, the top ten weighted stocks in the China Internet 30 Index include Tencent Holdings, Alibaba-W, Pinduoduo, Xiaomi Group-W, Meituan-W, NetEase-S, Trip.com Group-S, Baidu Group-SW, JD Group-SW, and Kuaishou-W, collectively accounting for 87.8% of the index [2]

Core Viewpoint - Pinduoduo is planning to enter the instant retail market, with a focus on urban front warehouses in major cities, potentially launching in Q1 or by Q3 at the latest [2] Group 1: Business Environment Changes - The decision-making environment for Pinduoduo regarding instant retail has changed significantly over the past six months [6] - The closure of Meituan's preferred services has allowed Pinduoduo to dominate the community group buying market, providing it with the resources to explore new business opportunities [11] - The increase in the supply of delivery riders due to competition among major players has created a favorable condition for Pinduoduo to procure delivery services [15] Group 2: Strategic Focus - Pinduoduo's instant retail strategy will focus on non-food flash delivery, particularly fresh produce and competitively priced private label products [4][6] - The company aims to leverage its existing agricultural supply chain capabilities to enhance its instant retail offerings, especially in fresh produce, which is both a high-frequency necessity and a challenging category [19][21] Group 3: Market Position and Financials - Pinduoduo's market share in community group buying has increased significantly, enhancing its bargaining power with suppliers [12] - The company's market capitalization has decreased to half of Alibaba's, but its cash reserves are now higher, providing it with financial flexibility for future investments [23]

Group 1 - PDD Holdings Inc. is recognized as one of the most undervalued blue chip stocks currently available for investment [1] - Freedom Finance raised its price target for PDD Holdings from $140 to $170 while maintaining a 'Buy' rating, highlighting the company's operational resilience amid challenging U.S. trade dynamics [2] - The company's growth outlook is contingent on its execution in both China and U.S. markets, with expectations for contributions from new international markets to gradually increase [2] Group 2 - Recent governance changes at PDD include the appointment of co-CEO Jiazhen Zhao as co-chairman, reflecting a focus on execution and organizational depth during a period of heightened price competition in the Chinese e-commerce sector [3] - The company is navigating challenges such as U.S. tariffs and the removal of the de minimis duty-free threshold for China-origin shipments, which are impacting its margins [2][3] - Despite the potential of PDD as an investment, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [4]